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Business Management : Travel Corner company

   

Added on  2021-02-20

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Business Management
Business Management : Travel Corner company_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................1Sources of Start-up Capital for small business:-.........................................................................1TASK2.............................................................................................................................................2(a)Critical Success Factors For Travel Corner Company:-.........................................................2(b)Key Performance Indicators of Travel Corner Company:-....................................................3TASK3.............................................................................................................................................4(a)Risks faced by small business and its impact on the organisation.........................................4(b)Mitigation of the above risks..................................................................................................5TASK4.............................................................................................................................................6Growth strategies employed by organisation for future development and success ...................6CONCLUSION................................................................................................................................7REFERENCES:-..............................................................................................................................7
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INTRODUCTIONBusiness Management is an act of getting people together to achieve desired objective orgoal of the organization. The business management may be summed up by managing theresources of the entity to achieve the desired results. Present study is based on Travel Cornercompany, it is the holiday service provider. This study describes the sources of raising start-upcapital and it also explains the success factors and key performance indicators that are adoptedby Travel Corner company. Apart from that, this study also describes the impact of risk factorson the business and various mitigation strategies adopted by the firm to reduce such risks.TASK1Sources of Start-up Capital for small businessBusiness need fund to run the firm and conducting daily operations. There are varioussources of start up capital. These are described as below:Angel Investors: -These investors are basically groups or individuals who arrangecapital from the personal assets to support entrepreneur with starting his business. Theseinvestors look for those start-ups which have good potential for earnings. They are rulerin their own field who not only share their network of contacts and experience but alsotheir managerial and technical knowledge. In return they have the right to inspect themanagement activities of the company. The National Angel Capital Organization is anorganization that helps the angel investors to develop their capacity (Erasmus, Strydomand Rudansky-Kloppers., 2016).Bank Loans: -This is the most commonly used source of funding for small as well asmedium sized business. Since all banks provide different benefits whether its customizedrepayment or it's personalized services. So the entrepreneur has to identify the particularbank that satisfy his specific needs. Usually banks look for the companies that haveexcellent credit with a sound track record. However, these loans require a personalguarantee from the owners.Venture Capital:-Venture capitalists are generally group of individuals that offer fundsthrough an organization that they have established. They take an equity position in thecompany which carry out a higher risk project but in return they also expect a healthyreturn on their investment. However, these days many Venture Capitalists have moved toa mentor role as they assist the entrepreneurs regarding business decisions and offering1
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